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Egyptian Transport & Commercial Services Company Egytrans Nosco announced that it has received formal notification from Africa Global Logistics (AGL) of the latter's intention to launch a mandatory tender offer to acquire up to 100% of the company's shares, with a minimum acceptance threshold of 75%, as part of a plan to delist the company from the Egyptian Exchange (EGX).

In a disclosure filed with the EGX, the company said the announcement was made in accordance with Article 330 of the Executive Regulations of Egypt's Capital Market Law No. 95 of 1992. The proposed offer covers all outstanding shares and is intended to facilitate the company's voluntary delisting following the completion of all legal and regulatory procedures.

The preliminary indicative offer price ranges between EGP 11.25 and EGP 12.25 per share, with the final price to be determined after the completion of due diligence.

Based on the company's 156.06 million outstanding shares, the transaction would be valued between approximately EGP 1.76 billion and EGP 1.91 billion if AGL acquires 100% of the company. If the minimum 75% ownership threshold is achieved, the deal value would range from approximately EGP 1.32 billion to EGP 1.43 billion.

AGL, a company incorporated under French law and registered with the Commercial Court of Nanterre, stated that the proposal is currently non-binding and will form the basis of its application to Egypt's Financial Regulatory Authority (FRA) for approval to proceed with the mandatory tender offer.

Under the proposed terms, shareholders would receive payment in cash based on the final offer price. Subject to approvals from the Central Bank of Egypt and the FRA, the consideration could also be paid in U.S. dollars or euros, using the official exchange rate announced by the Central Bank on the transaction date.

AGL confirmed that the acquisition is fully financed and does not depend on securing external funding, reinforcing its commitment to completing the transaction once all regulatory approvals and corporate requirements—including shareholder approval for the voluntary delisting—have been satisfied.